Rhythm Pharmaceuticals (RYTM) Expected to Announce Quarterly Earnings on Thursday

Rhythm Pharmaceuticals (NASDAQ:RYTM) is expected to announce its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.72) per share and revenue of $38.48 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Rhythm Pharmaceuticals Stock Up 0.8 %

NASDAQ RYTM opened at $58.00 on Thursday. Rhythm Pharmaceuticals has a 52 week low of $35.17 and a 52 week high of $68.58. The stock has a market capitalization of $3.56 billion, a PE ratio of -13.39 and a beta of 2.14. The firm has a 50 day moving average of $57.06 and a two-hundred day moving average of $53.86.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 1,281 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total value of $76,129.83. Following the sale, the insider now directly owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This represents a 32.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Kayden Lee sold 1,815 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $56.39, for a total transaction of $102,347.85. Following the completion of the sale, the executive vice president now directly owns 3,598 shares in the company, valued at approximately $202,891.22. The trade was a 33.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,787 shares of company stock worth $1,901,443 in the last 90 days. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on RYTM shares. TD Cowen boosted their price target on shares of Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, January 2nd. They set a “buy” rating and a $80.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.09.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.